CO2 Foundation logo

CO2 Foundation

Private foundation · Grantmaker Seattle, WA EIN: 83-3981914 Website

CO2 Foundation is a private foundation based in Seattle, Washington, that provides early-stage, project-based support for scientifically grounded climate solutions. Its website describes a focus on bold, proof-of-concept work addressing both the causes of climate change and urgent risks from extreme weather.

Key facts about CO2 Foundation

In short: CO2 Foundation gave $2.3M across 34 grants in 2025 (avg $66K), top state Washington. Source: 2025 IRS Form 990-PF.

EIN
83-3981914
Latest 990 filing
Form 990-PF, 2025
Annual giving (2025)
$2,251,048
Grants made (2025)
34
Average grant
$66,207
Median grant
$71,250
Total assets
$5,718,718
Primary geography
Washington (23% of itemized 2025 grant dollars)
Accepts unsolicited proposals
Yes
How to apply
The foundation accepts unsolicited requests through letters of inquiry, which it accepts on a rolling basis; full proposals are by invitation only. Full details ↓
Deadline
The 2025 funding opportunity listed a priority date of July 31, 2025, which has passed.

Data from IRS Form 990-PF, 2025; updated September 2026. Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.

Financial Overview

From 2025 IRS Form 990-PF · View filing

Total Assets

$5.7M

-31.1% YoY

Annual Giving

$2.3M

+124.2% YoY

Grant Count

34

+25.9% YoY

Avg Grant Size

$66K

+78.0% YoY

Under IRS private-foundation payout rules, CO2 Foundation reported a distributable amount of $252K for 2025 — the minimum it must pay out in qualifying distributions.

How CO2 Foundation gives

  • 24% of 2025 grantees were also funded in 2024. Method
  • Giving grew 572% from 2022 to 2025. Method
  • In 2025 it paid out 965% of its IRS minimum distribution (the 5% rule). Method

Estimate from itemized grant lists in IRS Form 990-PF filings (2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.

Research compiled by Grantable AI from public sources. Last updated September 2026.

Mission & Focus Areas

The foundation’s stated mission is to carry out grantmaking and communication about societal risks from extreme weather and the need for evidence-based, effective carbon removal approaches that contribute to a safe, just, and resilient future. Its website describes four guiding principles: embracing urgency, advancing the field, seeding bold ideas, and addressing both climate change’s near-term impacts and its underlying causes.

The foundation funds scientifically sound, potentially game-changing responses to the climate emergency, including proof-of-concept pilots. Its stated priorities include extreme-weather preparedness and response, research, communications, and convenings. Examples in its 2025 grants include extreme-weather research and alerts, climate journalism, disaster-recovery analysis, marine restoration, and soil-health work.

Grantees’ own descriptions illustrate the range of organizations supported. Climate Central describes itself as an independent nonprofit that researches and reports on climate change, its impacts, and solutions. Grist describes itself as a nonprofit media organization dedicated to reporting on climate change. EcoAdapt says it brings diverse players together to reshape planning and management in response to rapid climate change.

Grantmaking

In filing year 2025, CO2 Foundation reported 34 grants totaling **$2,251,048**. Grants ranged from **$2,475 to $190,000**, with a median of **$71,250**. The foundation’s website gives a typical grant size of **$25,000–$100,000** and says funded projects may run for **6–18 months**.

Grant Range

of **$25,000–$100,000** and says funded projects may run for **6–18 months**.

Review Cycle

The 2025 funding opportunity listed a priority date of **July 31, 2025**, which has passed. The foundation’s filing describes one funding opportunity per year, with a soft close three months after the opportunity is posted.

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Geographic Focus

Where this funder awards grants

The foundation is based in Seattle, Washington. Its 2025 grant dollars went to recipients in multiple states; the largest reported shares were Washington (23%), California (13%), Massachusetts (12%), New Jersey (8%), and Oregon (7%).

Grant Distribution by State

19states

Share of 2025 grant dollars across all 34 itemized grants.

Cities

SeattleCorvallisSan FranciscoBainbridge IslandNew HavenPortlandPrincetonBostonBrooklynRed LodgeSalt Lake CitySpokaneCharlestownMadisonNew YorkPetalumaPhoenixSanfordWalthamArlington

Giving Over Time

Total grant dollars and number of grants per year

$0$1M$2M$3M1 grant2020 1 grant2021 9 grants2022 11 grants2023 27 grants2024 34 grants2025

From 2020 to 2025, annual grant giving ranged from $50 (2020) to $2.3M (2025). In 2025 it made 34 grants totaling $2.3M.

Grant Insights

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2025

Climate Central Inc: $190KClimate Central Inc$190KUniversity of Washington Foundation: $190KUniversity of WashingtonFoundation$190KYale University: $145KYale University$145KCommon Goal: $100KCommon Goal$100KThe Conversation US: $99KThe Conversation US$99KGrist Magazine Inc: $97KGrist Magazine Inc$97KNorthern Arizona University Foundation: $95KNorthern Arizona UniversityFoundation$95KUrban Institute: $95KUrban Institute$95KClimate Foundation: $86KClimate Foundation$86KOregon Environmental Council (Oec): $84KOregon Environmental Council(Oec)$84K

The largest 2025 recipient was Climate Central Inc ($190K). Together the top 10 received $1.2M.

Grant Size Distribution

82 grants across all recorded years

48<$50K31$50–100K3$100–250K$250–500K$500K–1M$1–5M$5M+

The most common grant size was under $50K: 48 grants of 82 (59%).

Giving History

Grant recipients and amounts by year

RecipientPurposeAmount
Climate Central Inc Princeton, NJContinuing sea surface temperature attribution modeling, connecting with extreme weather events. / expand our reach to new audiences with webinars, social media, and event-specific tools that will strengthen public understanding and help communities plan for and respond effectively to extreme weather events.$190,000
University of Washington Foundation Seattle, WAAssess with the use of new climate model simulations if heatwaves could be pre-emptively cooled down with targeted aerosol injection upstream from the heatwave location. / co-produce actionable predictions through a collaboration with scientists and arctic indigenous organizations -- downscale earth system models to provide locally relevant, accessible, and potentially life-saving information.$189,744
Yale University New Haven, CTContinuing yale climate connections spanish language hub work, on new platforms. / automate lifesaving extreme weather alerts and climate education during moments of increased public interest.$145,098
Common Goal Brooklyn, NYRaise awareness of climate change to a global football community and secure action from industrystakeholders.$99,623
The Conversation US Waltham, MAContinue getting extreme weather science information to the public!$99,350
Grist Magazine Inc Seattle, WA2025 extremes project focused on the disaster economy a full look at the businesses, labor forces, relief funds, and more that pop up in the wake of climate-induced disasters (and how thats changing under a new administration).$97,050
Northern Arizona University Foundation Flagstaff, AZUse existing biocrust restoration experiments to determine carbon sequestration potential of these activities.$95,000
Urban Institute Washington, DCProvides rapid, equity-focused analysis on disasters and disaster recovery needs in the days before, and after, those events, to that expand public conversations to include key equity topics and support community advocates and policy-makers who are prioritizing these important issues.$95,000
Climate Foundation Seattle, WAAdvances hectare-scale marine permaculture development, unlocking vast ocean areas for ecological restoration, sustainable resource production, and long-term carbon storage solutions.$85,500
Oregon Environmental Council (Oec) Portland, OR2027 soil health summit and additional natural climate solutions rulemaking stakeholder engagement.$84,250

Financial History

Multi-year comparison from IRS filings

Filing year Assets Revenue Expenses Grants
2025 $5,718,718 $715,786 $2,521,427 $2,251,048
2024 $8,299,815 $5,960,759 $1,100,997 $1,004,030
2023 $1,960,134 $38,944 $602,817 $303,580
Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$2M$4M$6M$8M2020 2021 2022 2023 2024 2025
Metric202520242023
Total Assets$5,718,718$8,299,815$1,960,134
Revenue$715,786$5,960,759$38,944
Expenses$2,521,427$1,100,997$602,817
Qualifying Distributions$2,427,302$1,176,021$466,854
Net Investment Income$3,218,593$842,422$35,536
Distributable Amount$251,596$115,591$99,649

Data update history

When this profile's IRS filing data changed on Grantable

  1. Added Form 990-PF for fiscal year 2025 (received by the IRS July 31, 2026)
  2. IRS filings on file for fiscal years 2020–2024

Leadership & Key People

Leadership team and compensation from IRS filings

The 2025 filing lists Karen Wolfgang as executive director, William Calvin as president, Katherine Graubard as vice president, and Stephanie Moret as treasurer.

CO2 Foundation is led by Karen Wolfgang, Executive Director on every filing since 2022; 1 of 4 officers listed in 2025 is compensated.

Officers on the 2025 filing

  • Karen Wolfgang

    Executive Director

    On filings since 2022

    40 hrs/week

    $97K (2022) → $116K (2025)

  • William Calvin

    President

    On filings since 2020

    2 hrs/week

    No compensation reported

  • Katherine Graubard

    Vice President

    On filings since 2020

    10 hrs/week

    No compensation reported

  • Stephanie Moret

    Treasurer

    Trustee → Treasurer, 2025

    On filings since 2024

    10 hrs/week

    No compensation reported

Former officers (1)
  • Former: Sarah Myhre (2020–2022) — Executive Director -

Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.

Compensation Overview

From 2025 IRS filing

Karen Wolfgang — Executive Director: $116KKaren WolfgangExecutive Director$116K

The highest reported compensation on the 2025 filing was $116K, to Karen Wolfgang (Executive Director).

Contact

Application contact: Karen Wolfgang
Mailing address: 2442 Nw Market St 971, Seattle, WA 98107
Phone: (601) 342-0234
Email: grants@co2foundation.org
Website: https://www.co2foundation.org

Frequently asked questions about CO2 Foundation

How much does CO2 Foundation give each year?

CO2 Foundation gave $2.3M across 34 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $1.0M across 27 grants.

What is CO2 Foundation's typical grant size?

CO2 Foundation's median grant in 2025 was $71,250, and its average grant was $66,207, across 34 grants on its 2025 IRS Form 990-PF.

Where does CO2 Foundation give grants?

CO2 Foundation's top state is Washington, with 23% of the grant dollars itemized on its 2025 IRS Form 990-PF. The next largest states were California (13%) and Massachusetts (12%). The most frequent recipient cities were Seattle, WA (4 grants) and Salt Lake City, UT (2 grants).

Does CO2 Foundation give general operating support?

Not in 2025: none of the 34 grants with a stated purpose on CO2 Foundation's 2025 IRS Form 990-PF were described as general or operating support.

Who are CO2 Foundation's largest grantees?

CO2 Foundation's largest 2025 grantees include Climate Central Inc ($190,000), University of Washington Foundation ($189,744) and Yale University ($145,098), according to its 2025 IRS Form 990-PF. Together they received 23% of its itemized 2025 grant dollars.

How large is CO2 Foundation?

CO2 Foundation reported $5.7M in total assets on its 2025 IRS Form 990-PF. It paid out $2.4M in qualifying distributions that year, against a required minimum of $252K (roughly 5% of its investment assets).

What does CO2 Foundation fund?

The foundation’s stated mission is to carry out grantmaking and communication about societal risks from extreme weather and the need for evidence-based, effective carbon removal approaches that contribute to a safe, just, and resilient future. See mission & focus areas ↑

How do I apply for a grant from CO2 Foundation?

The foundation accepts unsolicited requests through letters of inquiry, which it accepts on a rolling basis; full proposals are by invitation only. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑

What is CO2 Foundation's EIN?

CO2 Foundation's EIN (Employer Identification Number) is 83-3981914. IRS Form 990 filing data is available on this page for 2020–2025.

Does CO2 Foundation accept unsolicited proposals?

Yes, according to Grantable's research on the foundation's published guidelines. See how to apply ↑

Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.

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